Cardano Price Analysis: ADA Retreats After Reaching All-Time High

Daily Cardano ADA Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Cardano price is hovering between $1.68 and $1.85 lines
  • MACD shows sustained bullish market momentum.
  • The Cardano price jumped from $1.09 to $1.77 between April 26 and May 8 – gaining almost $0.68 in its overall valuation. Following this jump, ADA was stuck under the $1.75 level for four straight days before finally breaking through. This Thursday, ADA reached an all-time high of $1.97.

    Cardano Price Has More Growth Potential

    After reaching an all-time high of $1.97, the Cardano price has retreated to $1.83. The MACD shows sustained bullish market momentum, which tells us that the current sentiment is positive. The relative strength index (RSI) shows that ADA could grow some more before getting overpriced.

    Image: ADA/USD daily

    Cardano ADA Daily Chart

    Cardano price has a robust support barrier at $1.75. Previously, at this level, nearly ~53,000 addresses had purchased ~2 billion ADA tokens. 

    Image: IntoTheBlock

    Cardano ADA Volume Chart

    Cardano Price Is Expected To Reach These Levels

    The Cardano price will ideally want to hit the $2 psychological level before it gets overbought.

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